The company's Silicon Valley Bank unit reduced its loan-loss cushion by $52 million. Private-equity and VC clients have warmed to the practice of doing deals virtually, which increases lending opportunities, SVB executives said.
New York City's comptroller wants the mayor to pull the executive order he issued in March, when the city needed to quickly purchase ventilators and other coroavirus-related equipment.
Jo Jagadish, who joined TD Bank in April as head of commercial products and payments innovation, spent her childhood moving from country to country, so she's used to a world without borders — the kind of world emerging from the capabilities of fintech and demands of the pandemic.
Business models and adaptability will determine the success — or failure — of financial technology companies as they deal with fallout from the coronavirus outbreak.
The state's ratings, just one rung above junk, are holding steady after analysts' initial review of a fiscal 2021 budget that pins hopes on future federal relief.
Chairman Patrick Foye said the designation will better position the authority to cope with the revenue loss from the coronavirus pandemic.
Comptroller Kevin Lembo forecast a $620 million fiscal 2020 deficit in his monthly update to Gov. Ned Lamont.
Banks would be wise to dust off their Great Recession playbook and shed nonperforming loans while growing through M&A.
Coronavirus has taken a massive toll on suppliers, and emerging invoice methods are getting thrust into the mainstream to rescue cash-strapped businesses.
The privately held firm recruited more than 160 reps in the first quarter on the strength of its balance sheet, CEO Amy Webber says.